FOREX ANALYSIS: British Pound Sentiment Warns of Continued Weakness

ssi_gbp-usd_body_Picture_8.png, FOREX ANALYSIS: British Pound Sentiment Warns of Continued Weakness

GBPUSD – Retail FX traders have continued to scale back their British Pound short positions against the US Dollar (ticker: USDOLLAR), and the noteworthy shift in sentiment warns that the pair may have seen an important failure at $1.63. Since last week, total short interest has fallen 11 percent while longs are up 20 percent.

We see further risk of GBPUSD declines as crowds buy into weakness.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3779+0.0002+0.01%
    USDSGD=X
    1.5096+0.0005+0.03%
    EURSGD=X
    2.1480+0.0006+0.03%
    GBPSGD=X
    89.9787-0.0264-0.03%
    SGDJPY=X
    5.6273-0.0005-0.01%
    SGDHKD=X
    2.7982-0.0012-0.04%
    SGDMYR=X
    9,779.6660-1.1475-0.01%
    SGDIDR=X
    4.5066-0.001-0.02%
    SGDCNY=X
    1.0020-0.0006-0.06%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,085.00-4.40-0.40%
    GCQ15.CMX
    14.49-0.07-0.49%
    SIZ15.CMX
    45.54-2.03-4.26%
    ^XAU
    2.340.00-0.17%
    HGU15.CMX
    45.77+0.21+0.46%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.51-0.03
    ^FVX
    2.15-0.05
    ^TNX
    2.86-0.07
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.47+0.01+3.30%
    N21.SI
    2.20-0.10-4.35%
    MC0.SI
    0.310.00-1.59%
    E5H.SI
    0.310.00-1.59%
    5WA.SI
    0.123-0.011-8.21%
    5DN.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.46+0.07+17.95%
    AZZ.SI
    0.27+0.04+17.39%
    5WR.SI
    0.199+0.029+17.06%
    D79.SI
    1.25+0.16+14.68%
    AXL.SI
    0.565+0.070+14.14%
    AWZ.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.075-0.250-76.92%
    5I3.SI
    0.098-0.071-42.01%
    5MC.SI
    0.255-0.065-20.31%
    BAA.SI
    0.445-0.105-19.09%
    BBQ.SI
    0.094-0.019-16.81%
    5I0.SI